The market for microplates is projected to grow at a CAGR of 4.2% between 2023 and 2031. There has been a clear growth in the use of microplates in the biopharmaceutical industry during the past two decades. This is because their applications have become more sophisticated over time. Throughout the phases of drug discovery and development, microplates are routinely used to obtain precise data and conduct crucial micro tests. Recent years have witnessed a variety of changes to the method for conducting analytical tests on biological samples. Miniaturized assays can now be conducted, allowing for the screening of a large number of samples in a very short amount of time and at a significantly reduced cost.
The clinical diagnostics market was valued at around US$ 73.8 billion in 2022, showing a CAGR of 6% from 2023 to 2031. It is projected that the increasing prevalence of infectious and chronic diseases, as well as the expanding use of automated platforms, will contribute to the growth of the market.
According to the Noncommunicable Diseases, Important Facts study produced by the World Health Organization (WHO), chronic diseases would be responsible for roughly 41 million deaths annually by April 2021. This number represents 71% of all fatalities that occur in the world. The demand for healthcare systems is increasing at the same rate as the prevalence of chronic diseases that cause them. Hence, clinical diagnostics have been demonstrated to be beneficial in the management of chronic disease situations, as well as in the prevention, diagnosis, and treatment of disease. Clinical diagnostics aid in the detection of early warning signals and specific risk factors, hence creating new opportunities for early intervention and prevention. The increased prevalence of chronic diseases is expected to fuel the market for clinical diagnosis.
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Novel biologics, vaccines, and proteins, all of which require high throughput screening and high content analysis, will have a significant impact on the microplates industry. In response to the increasing demand for biologics as a therapeutic modality, manufacturing and distribution of biopharmaceuticals are spreading globally, particularly in less developed nations. The biopharmaceutical industry as a whole is anticipated to grow at a steady rate over the period covered by the forecast, and no significant obstacles are currently on the horizon. There has been a paradigm shift away from the pharmaceutical sector and toward the biopharmaceutical industry as new treatments have been proven to be effective. The utilization of biosimilars in the treatment of orphan diseases is becoming ever more crucial. It is expected that annual sales of biopharmaceuticals will approach 200 billion dollars worldwide, and that these sales will increase at a rate of 15% per year. Seventy percent of biopharmaceutical companies are currently utilizing microplates to enhance their product pipelines involving biologics for treating rare autoimmune illnesses. The fast-track designation that was granted to a significant number of global healthcare agencies will ultimately result in an increase in the number of clinical trial investigations, which will in turn raise the demand for microplates. In the past decade, the occurrence of infectious diseases such as Ebola, Zika, swine flu, Dengue, Nipah, COVID-19, and others has increased significantly, leading to a rise in the usage of microplates in laboratory settings for disease diagnosis.
In terms of microplate type, 384-well microplates were the most popular in 2022, accounting for over 40% of the market share. Their ability to conduct miniaturized gene transfer studies is the defining trait that most significantly contributes to their preeminence. In contrast to other microplates, this microplate has a high throughput during the transfection of immortalized and primary cells, hence helping to reduce the overall cost of the experiment.
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The discovery of disease targets, medication evaluation, and gene characterization rely heavily on cell culture as a fundamental and common research approach. Complex in nature, this method is much more accessible, less expensive, and relatively more labor- and time-efficient than in vivo research methods, and has fewer ethical problems. Cell culture can be conducted on a big scale utilizing enormous bioreactors, or on a small scale utilizing multiwall plates. The use of microplates in cell culture models is gaining popularity because these models enable the investigation of a multiplicity of dynamic variables, which in turn increases experiment output and reduces the time and cost required for the experiment. Innovative microplates with a high throughput also make organotypic cell culture and 3D cell culture simple and straightforward to conduct. In terms of the geometry of the wells, conventional 2D adherent cell cultures are best accomplished in microplates with an F-bottom. This is especially true when spectrophotometric measurements or culture imaging are required. Hence, cell culture dominated the application market in 2022, accounting for around 32.7% of global revenue.
In 2022, North America held the greatest revenue share in the worldwide microplates market, contributing over 30.4%. The escalating frequency of chronic and acute disease problems in North America, as well as the extensive availability of healthcare facilities for timely diagnosis and treatment, are the primary factors driving market growth in this area. It is also anticipated that this region will continue its dominating position throughout the course of the predicted period. The increasing trend of automation in biolaboratories is another factor contributing to the rise of the market in this area. Throughout the forecast period, it is anticipated that the Asia-Pacific region would enjoy considerable market growth. This is a result of the rapid expansion of healthcare infrastructure and increased spending in biotechnology and medicine research and development. The outsourcing of biotechnology contract research procedures is also a significant factor.
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The global microplates market is comprised of a number of noteworthy competitors; hence, market competition is intense. Greiner Bio-One International GmbH, Corning Incorporated, Thermo Fisher Scientific, Eppendorf AG, PerkinElmer, Inc., Becton, Dickinson and Company, QIAGEN N.V., VWR (Avantor), SPL Life Sciences, Porvair Science Ltd., Berthold Technologies GmbH & Co., KG, and Hirschmann Laborgerate GmbH & Co., KG, among others, are among the key players profiled in the report Despite the fact that new product development has been the primary approach for the past five years, the trend has shifted substantially. The Tier 1 firms are emphasizing umbrella strategies, such as mergers and acquisitions aimed at holistic development, over product-centric strategies. Throughout the period from 2020 to 2021, only Thermo Fischer has completed more than four acquisitions that are significant to the industry. Avantor, Inc. announced in September 2021 that it has signed into an agreement to buy the Masterflex bioprocessing business and related assets (collectively “Masterflex”) from Antylia Scientific, a privately held portfolio company of GTCR and Golden Gate Capital. Avantor additionally finalized the acquisition of Ritter GmbH and its Affiliates in June 2021. The acquisition is intended to strengthen the company’s position in the molecular diagnostics industry as a whole. Although COVID-19 has had a significant impact on the market in terms of mergers and acquisitions, Tier 1 firms have prioritized this strategy.
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